Morning Market Insight Report – 23 November 2021

Bank Nifty Intraday Outlook

 Pattern: Falling Downward channel formation
 Crucial Support Zones: 37000-36825-36600
 Crucial Resistance Zones: 37525-37800-37960
 Comments: Bank Nifty underperformed the Nifty by ~0.25% with both the indices took a nose dive, closing ~2% lower.

Nifty Intraday Outlook

 Pattern: Bearish Head and Shoulder formation (daily chart)
 Crucial Support Zones: 17250-17150-17080
 Crucial Resistance Zones: 17575-17625-17700
 Comments: Markets witnessed a negative day of trade, with the benchmark index trending lower for the major part of the trade. Reliance Industries was among the top index loser, closing ~4.5% along with an addition of fresh short positions.

Pivot Levels

Daily market statistics

Daily market statistics

Disclaimer

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